Phillip Jones

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There are a few items to point out in this "discussion" on buyer rebates (bribes)... First, it's a free market and buyer rebates are here to stay, like it or not, regulation or not, buyer rebates are here forever. Second, how is my time/work worth $18,000 on a $600k house while it's only worth $9,000 on a $300k house? Is the time I spend with the higher priced buyer more valuable? Is the paperwork that I complete better or different for the 600k house? Will I give the 300k buyer 1/2 the service and care 1/2 as much about their deal? No. So I win the lottery if I land a buyer that is fortunate enough to be able to afford a 600k and they use me as their agent. I'm not saying that this is wrong, but it does seem a little out of balance. Finally with regard to rebates, I use them when needed to gain a competitive advantage. I look at it like insurance. If I've invested time into a buyer and then get that uneasy feeling that they may be looking with someone else because I didn't answer my phone at 8:30am on a Sunday morning I'll offer a rebate (amount varies depending on deal size) because I would rather keep the customer and earn 2% than lose them and earn 0% - I think that makes sense, but I'm biased. At the end of the day, regardless of how much I earn (based on the purchase price of someone elses home) I still need to provide excellent service to keep my customer happy and get referrals..

There are a few items to point out in this "discussion" on buyer rebates (bribes)... First, it's a free market and buyer rebates are here to stay, like it or not, regulation or not, buyer rebates are here forever. Second, how is my time/work worth $18,000 on a $600k house while it's only worth $9,000 on a $300k house? Is the time I spend with the higher priced buyer more valuable? Is the paperwork that I complete better or different for the 600k house? Will I give the 300k buyer 1/2 the service and care 1/2 as much about their deal? No. So I win the lottery if I land a buyer that is fortunate enough to be able to afford a 600k and they use me as their agent. I'm not saying that this is wrong, but it does seem a little out of balance. Finally with regard to rebates, I use them when needed to gain a competitive advantage. I look at it like insurance. If I've invested time into a buyer and then get that uneasy feeling that they may be looking with someone else because I didn't answer my phone at 8:30am on a Sunday morning I'll offer a rebate (amount varies depending on deal size) because I would rather keep the customer and earn 2% than lose them and earn 0% - I think that makes sense, but I'm biased. At the end of the day, regardless of how much I earn (based on the purchase price of someone elses home) I still need to provide excellent service to keep my customer happy and get referrals..

There are a few items to point out in this "discussion" on buyer rebates (bribes)... First, it's a free market and buyer rebates are here to stay, like it or not, regulation or not, buyer rebates are here forever. Second, how is my time/work worth $18,000 on a $600k house while it's only worth $9,000 on a $300k house? Is the time I spend with the higher priced buyer more valuable? Is the paperwork that I complete better or different for the 600k house? Will I give the 300k buyer 1/2 the service and care 1/2 as much about their deal? No. So I win the lottery if I land a buyer that is fortunate enough to be able to afford a 600k and they use me as their agent. I'm not saying that this is wrong, but it does seem a little out of balance. Finally with regard to rebates, I use them when needed to gain a competitive advantage. I look at it like insurance. If I've invested time into a buyer and then get that uneasy feeling that they may be looking with someone else because I didn't answer my phone at 8:30am on a Sunday morning I'll offer a rebate (amount varies depending on deal size) because I would rather keep the customer and earn 2% than lose them and earn 0% - I think that makes sense, but I'm biased. At the end of the day, regardless of how much I earn (based on the purchase price of someone elses home) I still need to provide excellent service to keep my customer happy and get referrals..